*Additional admin fees apply dependent upon scoring, rental history, and length of employment.
Welcome to The Loop Apartments. The Loop does not discriminate against any person based on race, color, religion, gender, national origin, familial status, or disability. The rental criteria listed below explains the policies of this community with regard to standards that must be met by each applicant in order to be approved for residency.
All visitors must present a valid government issued photo identification in order to tour the community.
All applications will be accepted & processed as they are received. Each applicant must meet all rental criteria. Each applicant must pass verification of rental, employment, credit and a criminal history. Rental applications must be completed entirely.
Any omissions or falsifications will result in rejection of an application and or termination of lease.
Age – All applicants must be of legal age. All occupants 18 years or older are required to complete an application. All occupants must be listed on the application.
Identity Verification – All applicants (and guarantors when applicable) are required to provide valid government issued photo identification.
Income – A combined household gross monthly income equal to or greater than 3 times the market rent is required. Those having a gross income of less than 3 times the monthly rental payment may qualify with the assistance of a guarantor and or a risk fee. All applicants are required to execute the lease agreement and each applicant is individually responsible for the total amount of the rent. Applicant must have 6 months of consecutive, verifiable employment. If self-employed, retired, or disabled, the applicant must provide a copy of their tax return from the previous year, a financial statement from a CPA verifying their employment and income, or photocopies of their three most current bank statements illustrating the ability to pay rent, plus verifiable proof of self-employment, retirement, or disability. Those who lack such employment history will not be approved unless the applicant obtains a valid guarantor.
Credit History – Credit history will be verified by a third party verification service. The applicant will receive a credit score based on statistical data such as payment history, number and type of accounts, outstanding debt, and age of accounts. An unsatisfactory credit report can disqualify an applicant from renting at this community. An unsatisfactory credit report is one that reflects past or current bad debts, late payments or unpaid bills, liens, judgments or bankruptcies. Persons declined for no credit history may qualify with a higher deposit and or risk fee. Based on the credit score, the application will be accepted, denied or accepted with conditions. Guarantors may be accepted in the case of limited credit history or fulltime student status.
Rental History - Rental history must be a minimum of 6 months verifiable at applicant’s current residence. A positive record of prompt monthly payment, sufficient notice, with no damages is required. Evictions, broken leases and or rental debt within three (3) years of application date may result in a denial. Unless, proof of a payment plan is in effect or proof of paid off debt. Falsification of the application may result in an automatic rejection. Otherwise, neither guarantors nor additional security deposits will be accepted for negative rental history.
Pursuant to the Fair Credit Reporting Act, applicants declined due to negative history reflected on their credit report will be notified in writing.
Criminal History - An applicant may be automatically denied in the event the applicant(s) has been convicted of a felony or misdemeanor for any crime listed below. The applicant may receive a denial if they have had an adjudication of a felony within the past six (6) years for any crime listed below. An automatic denial will also occur should an applicant appear on the list of known terrorists and wanted fugitives as provided by the Office of Foreign asset Control (OFAC), federal agencies to include the FBI, or other state and local law enforcement agencies. The applicant agrees that the lease shall be terminated in the event the applicant, after moving onto the property, is convicted of any of the crimes listed below, and/or appears on the list of known terrorists, wanted fugitives, or national sex-offender database. Note: This requirement does not constitute a guarantee or representation that residents or occupants residing at this apartment community have not been convicted of a felony or are not subject to deferred adjudication for a felony.
Felony or Misdemeanor Convictions
Guarantor Qualification - Guarantors may be accepted for income qualification, first time renters and or minimal credit history purposes. Guarantor must complete an application and meet all criteria. A guarantor will be a SIGNOR on the Lease Agreement and will also be fully responsible for the Lease Agreement if the occupying resident(s) default.
Pet Criteria - A maximum of two pets per home are allowed. Pets that are on the restricted list will not be accepted. Pet photos and veterinary records may be required. Refer to the Pet Addendum for specific rules regarding pets at this community. Service animals & emotional support animals are not pets and are not subject to the above criteria.
Application fees & associated fees - All application fees, administration fees, pet fees (if applicable) and deposits must be paid in the form of a cashier’s check or money order only. Each applicant is required to pay individual application fees. If applicant has a pet, pet fees are required before move-in.
Applicant understands that application fees are non-refundable. In the event the applicant is required to pay a deposit and or risk fee and the applicant cancels, the deposit and or risk fee will be forfeited as liquidated damages.
Accepted: The applicant may be accepted with the standard deposits and fees.
Accepted with Conditions: The applicant may be required to pay an additional deposit, or risk fee equal to one months' market rent.
Denied: Application may not be accepted. The applicant will be provided with contact information for the consumer reporting agencies who provided consumer information. Pursuant to the Fair Credit Reporting Act, applicants declined due to negative history reflected on their credit report will be notified in writing.
Upon acceptance applicant has 72 business hours to pay deposit. Applications are good for 14 days. After that time period applicate must show proof of continued employment & an updated criminal report will be ran.